Lets parents with student loans for their kids get new ways to lower monthly payments.
Right now, parents with federal PLUS loans for their kids can't use income-contingent or income-based repayment plans. This bill would change that, letting these parents and those with combined PLUS loans make payments based on their income. This could make their monthly bills more affordable. It would also update the rules for what counts as 'financial hardship' for these plans.
Today, parents with Federal Direct PLUS loans for their children, and certain consolidated versions of these loans, cannot use income-contingent or income-based repayment plans. If this bill becomes law, these parents would be able to choose these repayment plans, allowing their monthly payments to be adjusted based on their income and family size. The bill would also update the specific calculation for what counts as "partial financial hardship" for these plans, using a 10-year repayment period, 15 percent of discretionary income, and 150 percent of the poverty line.
HR 1759 · 119th Congress · AI Summary by gemini-2.5-flash · 5/10
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